not vested
Oct 29, 2019
<Research Report>Macquarie: SINOPHARM (01099.HK) 3Q19 Revenue Stays Strong, Kept Outperform
SINOPHARM (01099.HK) reported strong 3Q19 revenue growth of 27%, beating Macquarie's expectation and up 23% from the growth in 1H19.
The broker attributed this to medical device contribution and retail business expansion.
SINOPHARM was kept Outperform at a target of $39.86, yet being kicked out of the drug distribution top-pick list.
The drugmaker's earnings growth needs to accelerate from 12% for 1-3Q to 20% for 4Q in order to achieve Macquarie's earnings forecasts.
Source: AAStocks Financial News